Global Radiography Test Equipment Market Investment Analysis, Future of the Radiography Test Equipment Market and Executive Summary

From:Maggie | Times of browsing:428 times | Time:2018-10-09 14:28:58

Radiography Test Equipment

Radiography Test Equipment

The Research report sales, import, export and revenue figures are also developing in the forecast period to 2023. The key players and brands are making their moves by product launches, researches, their joint ventures, merges, and accusations and are getting successful results.

Radiography Test Equipment market report describes the development of the industry by overall Challenging & Sub sequential industry development, key companies, as well as type segment & market application and so on, and makes an authentic Forecast for the development industry prospects on the basis of analysis. finally, Radiography Test Equipment Market analyses opportunities for investment in the industry at the end of the report.

Radiography Test Equipment Market Report gives strategists, advertisers and senior administration with the basic data they have to evaluate the Global Radiography Test Equipment Market. Alongside deliberately breaking down the key small scale Market, the report likewise centres around industry-particular drivers, restrictions, openings and difficulties in the Radiography Test Equipment market. This examination report offers top to bottom investigation of the market measure (income), piece of the overall industry, real market portions, and diverse geographic locales, gauge for the following five years, key market players, and premium industry patterns. It likewise centres around the key drivers, restrictions, openings and difficulties.

In 2017, the global radiography test equipment market was valued at USD 858.6 million and is expected to reach a value of USD 1451.12 million by 2023, registering a CAGR of about 9.14% during 2018-2023 (the forecast period).

The radiography test equipment market has been segmented on the basis of technology, end user, and geography. The technologies considered under the study scope include film radiography, computed radiography, digital direct radiography, and computed tomography. End users considered under the study scope are aerospace, energy, automotive, oil & gas, manufacturing, construction, and ‘others’. The ‘others’ segment includes transportation, commercial R&D, foundry, and waste management. The geographical scope of the study includes North America, Europe, Asia-Pacific, and Rest of the World.

The shift from analog toward digital technology has given the industrial radiography market a new lease of life for NDT applications, broadening the scope for X-ray inspection systems beyond traditional applications.

The surge in demand from aerospace and automotive sectors, due to the conformance to high industry standards and safety regulations and mandating testing, and preventive maintenance, is boosting the rate of adoption of radiography testing solutions.

The fierce competition from ultrasonic systems, high risk of radiation, lack of skilled personnel, especially in the digital radiography, and relative high deployment costs are the factors expected to hinder the growth of the studied market.

Stringent Regulations and Safety Standards are driving the Market Growth

Several governmental agencies and regional bodies, such as the American Society of Mechanical Engineers (ASME) and International Organization for Standardization (ISO), have instituted stringent measures in order to assure the safety of instruments and oversee engineering services testing.

Incidents, like the BP Macondo disaster, the San Bruno pipeline explosion, and the BP Texas City refinery explosion, have further emphasized on the need for safety, environmental sustainability, and regulatory compliances.

Asset owners and operators are continually facing high economic and reputational cost of non-compliance, as the public and regulatory focus on safety increases.
 For example, the ISO 13623 mandates certain standards for design, material, fabrication, testing, operation, maintenance, and abandonment of pipeline systems that are employed for transportation in the petroleum and natural gas sectors.

Direct Radiography held a significant market share in 2017

Real-time radiography (RTR) is a well-known traditional method of NDT, having significant applications in aerospace, automotive, pressure vessel, electronic, and munitions industries, among others. The use of RTR is increasing due to a reduction in the cost of the equipment and resolution of issues, such as the protecting and storing digital images. In 2016, the automotive industry held a dominant position in the adoption of inspection systems and accounted for about 28.5% of the total revenue. DR systems are perfectly suited for production environments and can be used for the continuous inspection of hundreds or even thousands of parts per hour. To conform to high industry standards for quality and safety, the need for NDT inspection in the military & defense, and aerospace industry is paramount for, both, manufacturing and maintenance applications.

North America and Europe are the two largest markets for DR systems from a geographic region perspective, as these regions are the fastest adopters of new technology. A key reason for quicker adoption is the end-user mindset in these regions. Although, they are reluctant to change and there is a certain degree of resistance, the end users understand the advantages of new technology.

Original source: By Phillip Campbell, in Business Industry Reports Market News on October 8, 2018 .

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